Risk

3/6/2018
11:20 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Cyber Insurer Coalition Raises $10 Million to Solve Cyber Risk for SMBs

SAN FRANCISCO - February 28, 2018—Coalition Inc., the first technology-enabled cyber insurance solution, announced today that it raised $10 million in Series A funding from leading technology investors including Vy Capital, Ribbit Capital, Valor Equity Partners, Sam Altman (President, Y Combinator), and Deep Nishar (Senior Managing Director, Softbank Vision Fund).

https://www.prnewswire.com/news-releases/cyber-insurer-coalition-raises-10-million-to-solve-cyber-risk-for-smbs-300605520.html

Founded by technology entrepreneurs Joshua Motta and John Hering, Coalition is a technology company that offers cyber insurance products supported by the financial strength of leading global insurers Swiss Re Corporate Solutions and Argo Group. The company began offering insurance and cybersecurity to small to midsize businesses (SMBs) in November 2017 and is licensed to offer insurance nationwide.

“Our mission is simple, yet monumental: to solve cyber risk for SMBs. We now have the team, technology, investors, and resources to do this,” said Joshua Motta, CEO & Co-founder, Coalition. “Solving cyber risk doesn’t mean solving security failures. It means allowing companies to embrace technology while remaining resilient to the risks that accompany it. We provide companies with free cybersecurity to prevent loss before it occurs, and expert response and comprehensive insurance coverage when all else fails.”

Through Coalition’s cyber risk management platform, any business can easily access and configure a number of cybersecurity tools including threat and intelligence alerts, ransomware and denial of service protection, and patch and vulnerability notifications, all without any complex setup or configuration. Coalition’s customers include leading technology companies, investment firms, retailers, banks, manufacturers, and healthcare providers.

"We believe that cybersecurity should be a public good, and now we have the backing and resources to democratize access to the technology SMBs need to protect themselves,” said John Hering, Co-founder and Director of Coalition. “The response from customers has been overwhelming—this may be the first time an insurance company has helped actually prevent a data breach.”

“Today, more than ever, cyber protection is critical for all businesses, creating an enormous market opportunity. Coalition has the right DNA and the best team to build a trusted brand that understands and addresses the cyber risk exposures of any SMB, giving business owners the peace of mind to focus on what matters the most to them,” said Micky Malka, Managing General Partner at Ribbit Capital.

Coalition's team includes technology entrepreneurs and executives that helped build Cloudflare, Lookout and OpenDNS, former members of the US Intelligence Community, and cyber insurance innovators. Their combined expertise puts Coalition in a unique position to understand and address today's cyber risk challenges.

Proceeds from the funding will be used to grow Coalition’s engineering team and expand its cyber risk management platform. Read more about Coalition’s plans on the Coalition blog, Solve Cyber Risk.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
WebAuthn, FIDO2 Infuse Browsers, Platforms with Strong Authentication
John Fontana, Standards & Identity Analyst, Yubico,  9/19/2018
Turn the NIST Cybersecurity Framework into Reality: 5 Steps
Mukul Kumar & Anupam Sahai, CISO & VP of Cyber Practice and VP Product Management, Cavirin Systems,  9/20/2018
NSS Labs Files Antitrust Suit Against Symantec, CrowdStrike, ESET, AMTSO
Kelly Jackson Higgins, Executive Editor at Dark Reading,  9/19/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: "I'm not sure I like this top down management approach!"
Current Issue
Flash Poll
The Risk Management Struggle
The Risk Management Struggle
The majority of organizations are struggling to implement a risk-based approach to security even though risk reduction has become the primary metric for measuring the effectiveness of enterprise security strategies. Read the report and get more details today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-17338
PUBLISHED: 2018-09-23
An issue has been found in pdfalto through 0.2. It is a heap-based buffer overflow in the function TextPage::dump in XmlAltoOutputDev.cc.
CVE-2018-17341
PUBLISHED: 2018-09-23
BigTree 4.2.23 on Windows, when Advanced or Simple Rewrite routing is enabled, allows remote attackers to bypass authentication via a ..\ substring, as demonstrated by a launch.php?bigtree_htaccess_url=admin/images/..\ URI.
CVE-2018-17332
PUBLISHED: 2018-09-22
An issue was discovered in libsvg2 through 2012-10-19. The svgGetNextPathField function in svg_string.c returns its input pointer in certain circumstances, which might result in a memory leak caused by wasteful malloc calls.
CVE-2018-17333
PUBLISHED: 2018-09-22
An issue was discovered in libsvg2 through 2012-10-19. A stack-based buffer overflow in svgStringToLength in svg_types.c allows remote attackers to cause a denial of service (application crash) or possibly have unspecified other impact because sscanf is misused.
CVE-2018-17334
PUBLISHED: 2018-09-22
An issue was discovered in libsvg2 through 2012-10-19. A stack-based buffer overflow in the svgGetNextPathField function in svg_string.c allows remote attackers to cause a denial of service (application crash) or possibly have unspecified other impact because a strncpy copy limit is miscalculated.